More to come or just an anomaly? Italy’s M&G Chemicals breaks China hold on IPOs

Italy’s M&G Chemicals is hoping to break the recent stranglehold that Chinese companies have had on Hong Kong IPOs by becoming the first name from outside Greater China to raise more than $100m on the city’s stock exchange in over 12 months. The company faces obstacles, but if its HK$4.59bn ($592m) IPO succeeds there are others waiting in the wings, writes Rev Hui.

By Lorraine Cushnie

29 Nov 2013

Issuers away from Greater China are rare in Hong Kong. The last was Malaysia’s CAA Resources, but that deal in June only raised HK$487.5m. It necessary to go as far back as July 31, 2012, to find the last sizeable transaction with Pachinko operator, Dynam Japan Holdings, raising
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